Ten Lifestyle snaps up three year technology and media contract

Ten Lifestyle Group on Monday won a new three-year contract with a global brand, with the contract expected to be worth more than £2.0m in the 2020/2021 financial year.

The AIM traded luxury lifestyle and travel platform said the technology, media and telecom (TMT) contract is expected to grow to this level after contributing between £0.25m to £2.0m in the current financial year.

Alex Cheatle, chief executive of Ten Lifestyle, said: "We are very pleased to announce a new contract which will see Ten enable a global brand to offer high-touch and digital concierge services to their customers for the first time. The TMT sector is new territory for us and we are excited for the growth and international expansion we hope will come with this partnership. We will announce further information once the service has launched."

Analysts from Peel Hunt said that the company's foray into the TMT sector demonstrates that its offering, especially its digital platform, is suitable to "a much wider audience than its pure-play financial services and end customers focus to date".

Ten Lifestyle Group's shares were up 5.42% at 73.00p at 1158 BST.